Market Research Future Published a Research Study on Specialty Plasticizer Market Research Report, Size, Share and Industry Analysis – Forecast to 2022
Specialty Plasticizer Industry – Segments
The market is segmented into three dynamics to widen the scope of understanding,
By Types : Phthalates, Trimellitates, Aliphatic Dibasic Esters, Polymeric, Phosphates Epoxides, and others.
By Applications : Coated Fabric, Wire & Cable, Flooring & Wall Coverings, Film & Sheet, Medical Devices, Consumer Goods, and others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Specialty Plasticizer Market-Key Players:
Players leading the specialty plasticizer market include Eastman Chemical Company (US), UPC Group (Taiwan), Evonik Industries AG(Germany), ExxonMobil Corporation (US), BASF SE (Germany), Shandong Qilu Plasticizers Co. LTD (China), Aekyung Petrochemical Co. LTD (South Korea), Nan Ya Plastics Corporation (Taiwan), LG Chem LTD.(South Korea), and Struktol Company of America (US), among others.
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Global Specialty Plasticizer Market – Competitive Analysis
Highly competitive, the global specialty plasticizer market appears to be fragmented due to the presence of many large and small key players, churning the competition. To gain a significant competitive advantage, these players adopt strategic initiatives such as mergers & acquisitions, collaboration, expansion, and technology launch. High growth potential demonstrated by the players attracts several new entrants, which further intensifies the completion.
Top players invest in R&D heavily to deliver the best quality plasticizers. Manufacturers operating in the specialty plasticizer market, license selected networks to commercialize their products. These players are supported by compatible technology and creative & responsive suppliers that can help offer a competitive edge in the demanding industry.
Specialty Plasticizer Market: Overview
The global specialty plasticizer market is growing at a rapid pace, mainly due to the burgeoning plastic industry that is driven by the augmented usages of plastic and PVC materials. Rising consumption of specialty plasticizers to increase flexibility during the production of various plastic products defines the growth landscape of the market.
Moreover, uses of specialty plasticizers to add features such as low-temperature resistance, volatility-resistance, and excellent electrical properties to leather, PVC films, and electrical wires, accelerate the growth of the market. According to Market Research Future (MRFR), the specialty plasticizer market is expected to rise to USD 18,594.07 MN by 2022. The market would register a CAGR of approximately 3% during the forecast period (2016-2022).
PVC applications such as cables, PVC films, and flooring, roofing & wall coverings absorb a vast amount of specialty plasticizers, which acts as a key tailwind for the growth of the market. Increasing in PVC demand and expansion of high & non-phthalates is estimated to continue to drive the growth of the specialty plasticizers market. Furthermore, the burgeoning packaging industry predominantly drives the growth of the market.
Recently EU has forbidden di-octyl phthalate use in the production of toys and PVC food packaging owing to its toxic effect. Such regulatory restrictions on the use of phthalate-based plasticizers in toys and personal care products for children impede the market growth to an extent. Nevertheless, growing usages of specialty plasticizers in electronics wiring to achieve unparalleled balance for heat deformation resistance, flexibility, and electrical performance would support the market growth.
Global Specialty Plasticizer Market – Regional Analysis
The Asia Pacific is the largest region in the global specialty plasticizers market. Factors such as the vast production capacities and the consumption of these plasticizers in the region drive the regional market growth. Besides, the high demand in various applications such as flooring & wall coverings, wire & cable, film & sheet, coated fabric, and consumer goods foster the growth of the market in the region. Additionally, raw material and workforce advantages alongside, economical production methods influence the growth of the market.
Moreover, building & construction and other applications in the rapidly developing countries create enormous market demand. China owns the largest share in the APAC specialty plasticizer market share, followed by Japan. Additionally, increasing demand for specialty plasticizers in India, Taiwan, and South Korea is boosting the growth of the regional market.
Europe stands second in the global specialty plasticizers market. Rising pharmaceuticals and packaging industries in the region are driving large market demand, consuming large amounts of specialty plasticizers. Also, flourishing medical devices markets in Germany and other European countries is spurting the growth of the specialty plasticizers market in Europe.
The specialty plasticizer market in North America is growing briskly due to rising demand from the manufacturing industries. Simultaneously, growth in the PVC manufacturing industry increases the size of the specialty plasticizer market in North America. Also, cable-makers and building industry end-users in the region are providing substantial market opportunities.
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Industry/ Innovation /Related News:
July 11, 2019 —- BASF SE (Germany), one of the world’s largest chemical companies, announced the expansion of its global production capacity for the Higher Carboxylic Acids (HCA) – Isononanoic Acid (INA) and 2-Ethylhexanoic Acid (2-EHA). This would increase the production of these materials from 55,000 metric tons to 68,000 metric tons per year. BASF accounts for a leading producer of HCA worldwide due to its world-scale and highly flexible production facilities in Germany and Malaysia.
2-EHA is used as a building block in certain formulations in the production of plasticizers, PVC stabilizers, lubricants, cosmetics, and drying additives for coatings. INA is used as a feedstock in several high-performance formulations.
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